205 Hamilton St · Bynum, TX 76631

$125,000

4 bd · 2.0 ba · 2,176 sqft · Manufactured public records · 87 Days on market

Built 1996 9,148 sqft lot ↓ 17% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• 1% rule +6.6/10.0
• Schools +3.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover the potential of this 4 bedroom, 2 bathroom, office or second living area double wide home located in the welcoming community of Bynum, TX. With plenty of space and classic features, this property is ready for a new owner to bring their vision to life. This is a solid structure and desirable features, this property is offered as-is, making it the perfect canvas for updates and improvements. The primary bathroom is 15' x 10' with a bathtub, updated vanity and lots of room for storage. Two bedrooms on the south side of the home are L-Shaped, which could be reconfigured if desired to additional rooms, closets, storage space or whatever your heart desires. There are two water heaters i

Key facts

• Double wide home
• L-shaped bedrooms
• Solid structure

Tags

• DOUBLE WIDE HOME
• SOLID STRUCTURE
• UPDATED VANITY
• LOTS OF ROOM FOR STORAGE
• L-SHAPED BEDROOMS
• TWO WATER HEATERS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#1,238 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Bynum ISD (rural): math 35% / reading 35% proficiency, ranked #866 of 1,141 in TX (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 active listings in the ZIP; 65 units permitted in Hill County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($864 loan paydown + $5k appreciation (3.9% local appreciation)).
• Hill County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.16% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.64%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.88% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.6%
• Equity multiple: 2.11×
• Total profit: $38,876
• Equity at exit: $62,476

10-year hold

• IRR: 19.3%
• Equity multiple: 4.04×
• Total profit: $106,327
• Equity at exit: $101,473

Cash invested: $35,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 76631

• Home prices YoY: 3.9%
• Active inventory: 11
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,444 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$152 /mo · $1,829/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $281

Break-even live

Break-even rent $1,089

Max offer price $125,000

Occupancy floor 76%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-13
   status Pending
2. 2026-04-07
   historical Active Option Contract
3. 2026-03-14
   price $125,000
4. 2026-02-09
   price $148,500
5. 2026-01-15
   listed $149,999 Active
6. 2025-10-02
   soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $1,829 · $152/mo
• Projected year-2 tax: $2,288 · $191/mo
• Expected delta: +$458/yr (+$38/mo · 25.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 6 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,334
• − Mortgage interest: −$7,002
• − Property taxes: −$1,829
• − Insurance: −$625
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$3,636
• Taxable income: $1,468
• Est. tax owed @ 24.0%: −$352
• After-tax cash flow: $3,021/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Bynum ISD
• NCES district ID: 4812360
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 35% ▲ 5.00%
• Median HH income: $52,486
• Composite: 33.21/100
• National rank: #10611
• State rank: #866 of 1141 in TX

Livability — Bynum

• Score: 57/100
• State rank: #1238
• US rank: #21674

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bynum, TX
• Population (ZIP): 471

Population outlook (Hill County) Hauer SSP2

• Today (2025): 34,013 people
• By 2030: 33,289 · -2.1%
• By 2040: 31,688 · -6.8%
• By 2050: 30,100 · -11.5%
• By 2075: 26,818 · -21.2%
• By 2100: 22,918 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 35% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Slovak 6% Italian 4% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 89% English-only · Spanish 10% Other Asian/Pacific 1%

Political lean MEDSL · Hill

• 2024 margin: Solid R (+64.4) · D 17.5% · R 81.8%
• 2008→2024 swing: -23.0pp toward R · 2008: -41.4pp · 2024: -64.4pp
• All cycles: 2024: R+64.4 2020: R+60.7 2016: R+58.4 2012: R+53.0 2008: R+41.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.88%
• Current HPI: 102.8223
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-16.7% since first listed

6 events — show timeline

• 2026-04-13 Pending — NTREIS
• 2026-04-07 Contingent — NTREIS
• 2026-03-14 Price Changed $125,000 NTREIS
• 2026-02-09 Price Changed $148,500 NTREIS
• 2026-01-15 Listed $149,999 NTREIS
• 2025-10-02 Sold (Public Records) — Public Records

Property tax history

+13.7%/yr

Latest (2025): $1,829 · +12.4% YoY. Source: county tax records.